• Lifezone Metals signs exclusive deal to develop Burundi’s Musongati nickel project

• Company given 14 months to assess and advance project development

• Musongati deposit estimated at over 140 million tonnes

Lifezone Metals said on Tuesday it had reached an exclusive agreement with the government of Burundi to develop the Musongati nickel project, the latest step in the U.S. mining company’s expansion in Africa as it also advances its Kabanga project in Tanzania.

The contract was signed at a ceremony in Washington, D.C., attended by Burundi’s Minister of Mines Hassan Kibeya. It gives Lifezone a 14-month window to assume development of Musongati. The company must first complete a 30-day preliminary study to outline a broader exploration and feasibility program, with the option to extend the timeline depending on results.

Musongati is considered Burundi’s largest nickel deposit and has been explored for more than 50 years. A 2011 study estimated a mineral resource of more than 140 million tonnes. Lifezone aims to refine those estimates while simultaneously preparing to launch construction at Kabanga.

At Kabanga, a final investment decision is expected in mid-2026. The project aims to develop a mine capable of producing 902,000 tonnes of nickel over 18 years at a cost of $942 million. Musongati could extend that pipeline, as both deposits lie within the same nickel-bearing belt.

That strategic alignment comes as countries race to secure supplies of critical minerals, including nickel.

“As a NYSE-listed entity, Lifezone is ideally positioned to become the supplier of choice for the United States and partner nations [...] for nickel, a critical metal deemed vital to the U.S. economy and national security, and one which faces potential risks from disrupted supply chains,” Chief Executive Christopher Showalter said.

For Burundi, a successful outcome at Musongati could strengthen its position in Africa’s critical minerals sector. The country is also home to the Gakara rare earths mine, whose operations have been suspended since 2021 due to a contractual dispute between the government and operator Rainbow Rare Earths.

Aurel Sèdjro Houenou